Perceptions of Financial Students on Factors To Consider in Starting Business

883 Words2 Pages
bulb-icon

Recommended: Importance Of Entrepreneurship

Human beings are continuously engaged in some activity or other to satisfy their unlimited wants. It is an economic activity, which is related with continuous and regular production, and distribution of goods and services for satisfying human wants.

Starting a business is the dream of many individuals. In setting up a business takes imagination, research, analytical skills time and money without this resources, one cannot fully support his chosen things in mind before even pursuing a project like starting a business.

This study covers about giving information to the readers on what to consider in starting a business to secure the success in handling an own firm and to be able to attract many customers to consume the goods and services that is offers, This paper also gives the readers deeper understanding to avoid business failure. In this study, covers the learning on how to handle and manage business for a business person will be able to achieve the target market of the firm. This study will also improve a person’s business skills and knowing whether a person is suited in owning a business.

McDonough (2011), states that opening a business can be enjoyable and thrilling time to people’s life. These seven things should be considered for a business person will be successful in the business, the market, the economy, the finances, the ability to handle stress and back-up plan.

According to Miles (2011), if a person is thinking to start businesses in his own the person needs to take time to be sure that everything is all prepared. Even if starting a business to every business person would be exciting they should take it slow since that there are many things need to be considered that could affect the business. These are the fact...

... middle of paper ...

...iness-the-basics/

Fuller, C. (1996). Entrepreneur Magazine Group. Canada: Entrepreneur Media Inc.

International Business, T. (0005, October). What not to forget when starting up your own

business. International Business Times.

McDonough, M. (2011).7 Factors to Consider When Starting a Business. Retrieved

from: http://www.brighthub.com/office/entrepreneurs/articles/38870.aspx

McGuckin, F. (2007). 10 START-UP TIPS. NAFE Magazine, 30(2), 5.

Miles, M. (2012).Factors to Consider Before Starting a Business. Retrieved from:

http://ezinearticles.com/?Factors-to-Consider-Before-Starting-a-Business&id=6976692

Starting up the business. (2007). Air Conditioning Heating & Refrigeration News, 231(8), 46.

Silvestri, G. T. (1999). Considering Self-Employment: What to Think about before Starting a Business. Occupational Outlook Quarterly, 43(2), 15-23.

Show More
Related

  • Business Plan For Opening A Business

    1095 Words  | 3 Pages

    People all around the world have dreams of opening a business by creating a service, or product that is consumed by customers. Opening a new business requires a lot of hard work, patience, and extensive planning in order to operate a successful and legal business. However, before a person attempts to open a business, they must be sure they are up for the challenge, and they must be guaranteed that they have the right tools, personality, and experience to be a successful entrepreneur. Pick a mentor that owns a business who can give you advice. They can advise you of things you never knew, or things you should be aware of. Having this kind of person can save you a lot of trouble, and encourage you on the way. When opening a business you must have motivated, strong-minded, and goal oriented people that will provide the proper effort, planning, organization, funding, and structure of the entire business. To begin, creating a business plan for your company is essential for the future of your company, and how it intends to create revenue 3-5 years down the line. It is the most important step, and the first step of beginning your business. A business plan is an essential roadmap for business success; it is a formal statement of a set of goals for your business, the reasons they should be completed, and how you plan on reaching those goals for further success. Your business plan should contain an executive summary. An executive summary includes what you want out of your business, where you plan on taking it, and why it will be successful. Also, if you are seeking financing to get a loan, an executive summary is a great way to grab the investor’s interest. It shows the investor your intensions with your business, the structured guidelines...

    Read More

  • Analysis of J Sainsbury’s

    7599 Words  | 16 Pages

    Businesses exist to produce goods and services. If someone is thinking of starting up their own business or becoming part of an existing business, they would have to have the knowledge of what makes business work successfully and know how to how to apply that knowledge in the particular area of business. For this unit I will be entering and exploring the world of business. For this unit I will encounter and evaluate information provided by certain businesses and actually gather my own information from at least one business. The business I have chosen to study is J Sainsbury’s.

    Read More

  • Mark Cuban Strengths And Weaknesses

    1793 Words  | 4 Pages

    For those of us who dream of starting and running a business, we know that we have to have a level of confidence in our own abilities. We dont want to believe that there are things we cant do. We want to believe that if we try hard enough, work long enough, and get a little lucky, that the sky is the limit. The problem is that we let our confidence cloud our judgements of what we truly know about ourselves” (Cuban).

    Read More

  • Influence Of Internal And External Influences On Business

    889 Words  | 2 Pages

    A business can either take a step forward or a step back depending on the external and internal influences and how they handle them, they can either flourish or enter stages of degradation and cessation. External and internal influences on a businesses plays a part in the opportunities that arise in the industry the business operates in, otherwise the business may choose to venture out of it’s defined industry depending on the opportunities at hand. Businesses are affected by internal and external influences to a degree where they are either benefiting or suffering from the way they handle opportunities that arise. The five articles depict the problems encountered by businesses no matter their size or industry.

    Read More

  • Grant Cardone: Success And Failure

    921 Words  | 2 Pages

    Three to five section inquiries concern what you've recently perused and some space to compose your answers. In some cases the inquiries expect you to consider your own life. Last section will reveal to you how to begin with 10X considering and 10X activity. Benefit The book gives you thoughts on the most proficient method to grow a business quick.

    Read More

  • No Taxation without Representation

    1850 Words  | 4 Pages

    For entrepreneurs whom are willing to accept the risk associated with starting a business, some have made themselves extremely wealthy. Although our economy is focused on capitalism as a means of promo...

    Read More

  • Operations Management Case Study

    891 Words  | 2 Pages

    Starting with a business plan which is critical when describing your business’s future. A clear description of what you do and how you plan on doing it (Entrepreneur, 2016). Used as a blueprint for planning finance and marketing, a business plan also helps in securing financing to determine

    Read More

  • Characteristics Of An Entrepreneur

    1515 Words  | 4 Pages

    Entrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.

    Read More

  • Personal Reflection On My Entrepreneurial Potential Self-Assessment

    1009 Words  | 3 Pages

    I am gratified to reflect on my Entrepreneurial Potential Self-Assessment. I have always enjoyed learning the concepts of running and managing a business. Personally, what I enjoy generally is implying these concepts in real life situations. Seeing the ‘real life’ effects are stimulating to me. I always saw myself running a stable/well- establish business; however, I never saw myself running my own business. For my part, I find that I do not have all the characteristics an entrepreneur should have. Therefore, the results are not surprising, but assuring of what my strengths and weaknesses are.

    Read More

  • Entrepreneurship Essay

    1366 Words  | 3 Pages

    This research focuses on the particular part which is student self-employed intention towards on business and the risk of business in Malaysia. The selected respondents are student faculty of economic and business at UNIMAS. Researcher chooses these respondents because researcher wants to investigate how many students would like to build their own business. In addition, researcher chooses students UNIMAS because it make easily to collect data also can identify how much student from faculty economic and business choose self-employed as career after graduated.

    Read More

  • Key Factors to a Successful Business

    1896 Words  | 4 Pages

    The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.

    Read More

  • Starting a Small Business

    2009 Words  | 5 Pages

    Starting a small business is often one of the hardest things a person can do. Some people start a business out of pure fascination, or even as a hobby. Whether starting a business for personal reasons or simply the grandeur to make loads of money, everybody needs to have a plan. Starting a small business is no easy task and can take days if not months to prepare. The most important aspect to have is the tempura and heart to start a small business, as without passion, no business can succeed. One has to be his or her own boss, make dream, reality and be willing to market and sell a product. It takes a lot of discipline, long hours and hard work, something many do not have. However with the right willingness, passion and dedication a business can be the start of something big.

    Read More

  • Essay About Entrepreneurs

    714 Words  | 2 Pages

    Starting your own business can be exciting and it can become a well- rewarded experience. Being your own business includes great benefits, create your

    Read More

  • A Career as an Entrepreneur

    1668 Words  | 4 Pages

    I am interested in knowing more about starting and operating my own business. With what I have seen in the developing world around me, business has become more and more popular, I realized it is a great potential career path for me. So I would like to know, where to start, what schooling is needed, where do I make my business legal, how important is the work environment and gathering employees. Or is some of that afterthought stuff, that only matters if i...

    Read More

  • Successful Businessman Essay

    1378 Words  | 3 Pages

    The path to achieving great success is not easy. Whereas there are many shortcuts, the long and patient walk is what takes a person many miles ahead. This concept applies to any individual who aims at becoming a successful businessman. The process of becoming a successful businessman requires a person to attain several accomplishment levels. Each of the level takes energy and time, as well as the ability to recognize the things that make a person truly successful in the business world and life. Becoming a successful businessman requires measurements that take into account not only the monetary and material gains but also the greater scheme of things. Therefore, true success measure achieves in light of creating wealth and value. These factors are vital in the lifetime of success as they present an intangible worth and measurable profit. This essay discusses the way a person can become successful as a businessman.

    Read More

More about Perceptions of Financial Students on Factors To Consider in Starting Business

Open Document